Aggressive Exploration Program In Sinaloa

DENVER, CO - US Gold Corporation reported exploration results that mark a positive start to our regional program in Sinaloa State, Mexico. Multiple projects outside of the Magistral Mine area have encountered higher grade sections within larger zones of mineralization. Highlights from the Shakira Project include 0.033 ounces per ton (opt) gold, 1.787 opt silver over 118.1 feet (ft.) (1.14 gpt (grams per tonne) gold, 61.2 gpt silver over 36 meters) including 0.224 opt gold, 14.69 opt silver over 9.8 ft. (7.66 gpt gold, 503 gpt silver over 3 meters). Gold and silver mineralization was encountered throughout the entire hole and stopped while still in mineralization.
"While Nevada is buried in snow and preventing us from drilling, it is sunny in Mexico and we are finding gold. Our exploration outside of the Magistral Mine area is off to a good start! We are moving quickly to determine the potential growth prospects for each of these areas. With a large land position, higher grades and limited exploration, I think these properties represent an attractive opportunity for the company," stated Rob McEwen, Chairman and CEO of US Gold.
In December 2007 US Gold announced it would begin exploration in Mexico. The initial program has started and will consist of approximately 32,500 ft. (9,900 meters) of drilling, surface trenching and sampling. Geological tools such as artificial intelligence and remote sensing will be used to identify additional high-grade gold and silver veins and other minerals along US Gold's properties.
The Magistral Mine produced 70,000 ounces of gold from 2002-2005 when it stopped due to a lack of working capital and a gold price of US$425 per ounce. Current drilling is designed to extend the high-grade gold mineralization at the La Prieta vein
US Gold is conducting an aggressive exploration program at a number of promising projects outside of the mine area. US Gold controls 622 sq. miles (1,612 sq. km) of mineral concessions around the mine providing the Company with an excellent opportunity to make additional mineral discoveries. Regional exploration will initially focus on four key projects.
The company's address is 165 So. Union Blvd., Suite 565, Lakewood, CO 80228, email: [email protected].